Legal Guide: The Miami Commercial Real Estate Development Process
The commercial real estate development process involves multiple phases, each with its own set of challenges. Throughout this journey, you need the guidance of an experienced commercial real estate attorney to keep you on track toward your goals and minimize the financial risks.
For more than 70 years, our Miami commercial real estate attorneys at Galbut, Walters & Associates LLP have been guiding clients through each step of the process. We handle commercial and residential real estate developments valued in the millions and billions of dollars, from conception to completion.
What Are The 3 Main Steps In The Commercial Real Estate Development Process?
Many business owners and investors are unsure where to start, but the Miami real estate development process typically follows these stages:
- Site selection: The initial phase of real estate development involves identifying and acquiring suitable sites for a project. An attorney plays a pivotal role in this phase by examining title documents, zoning laws, environmental regulations and land use restrictions to assess the feasibility of the proposed development.
- Development/construction: Once a site is secured, the development and construction phase begins. Attorneys continue to play a crucial role by navigating an array of legal matters, including contracts, permits and regulatory compliance. They draft and negotiate contracts with architects, contractors and other stakeholders, ensuring that the terms are fair and protective of the developer’s rights.
- Closeout/operation management: The closeout phase marks the completion of the construction and the transition to the operational stage. Commercial real estate attorneys continue to be instrumental in finalizing any outstanding legal matters, including the resolution of construction liens, compliance with warranty obligations and the negotiation of lease agreements. In the operational phase, attorneys assist with ongoing legal matters such as property management agreements, lease disputes, and compliance with evolving regulations.
In short, if you want the commercial real estate development process in Miami to go smoothly, get an attorney on your side early.
Get Experienced Legal Guidance With Your Real Estate Development Goals Today
Speak to a commercial real estate attorney with generations of experience in the Miami area. With Galbut, Walters & Associates LLP, you get exceptional service that is tailored to your unique needs. Send us an email or call us at 305-701-9811 to get started.